WHAT IS A MARKETING PLAN?
A marketing plan is a written document that summarizes
what the marketer has learned about the market place
and indicates how the firm plans to reach its marketing
objective/s.
The Marketing Plan is a highly detailed, heavily
researched and well written report that many inside and
outside the organization evaluate.
MARKETING PLAN
The Marketing Plan is generally undertaken for one of
the following reasons:
1. As part of the yearly planning process within the
marketing functional area
2. Needed for a specialized strategy (e.g. new product
planning, entering new markets, or trying a new strategy to
fix an existing problem)
3. As a component within an overall business plan
HOW TO WRITE A MARKETING PLAN
1. PURPOSE
2. SITUATIONAL ANALYSIS
3. MARKETING STRATEGY AND OBJECTIVES
4. TACTICAL MARKETING PROGRAMS
5. BUDGETING, PERFORMANCE ANALYSIS AND
IMPLEMENTATION
6. ADDITIONAL CONSIDERATIONS
1. PURPOSE OF THE MARKETING
PLAN
Offer brief explanation for why this plan was produced
Suggest what may be done with the information
contained in the plan
2. SITUATIONAL ANALYSIS
i. Current Product Analysis
ii. Customer Analysis
iii. Competitor Analysis
iv. Environmental Analysis (Opportunities & Threats)
I. CURRENT PRODUCT ANALYSIS
Product Attributes
Pricing
Distribution
Promotion
Services Offered
Sales Analysis
II. CUSTOMER ANALYSIS
demographic/psychographic profile of the market:
gender, income, age, occupation, education, family life cycle, geographic region,
lifestyle, attitudes, purchasing characteristics, etc.
characteristics of customers:
Needs/benefits sought by market
Product usage: Who, why, when, how?
Customer Perception and attitude
purchasing process:
How does they make their purchase?
decision-making process, decision maker, information sought for purchasing,
Who makes the purchase?
Does user purchase or is other party responsible (e.g., parent purchasing for children)?
Who or what influence the purchase?
market size estimates:
III. COMPETITOR ANALYSIS
Describe direct competitors in terms of:
Target markets served
Product attributes, Pricing, Promotion, Distribution
network
Services offered
Discuss competitor’s strengths and weaknesses
IV. ENVIRONMENTAL ANALYSIS
(OPPORTUNITIES & THREATS)
Describe trends, events, conditions that are external
(usually uncontrolled by the company) that may impact
the company’s product(s) or the market.
social and cultural
demographic
economic
technological
political
legal, regulatory, ethical
3. MARKETING STRATEGY &
OBJECTIVE(S)
Marketing Strategy
Segmentation
Target Market (who will be our customer)
Positioning
Branding etc
4. TACTICAL MARKETING PROGRAMS
It contains descriptions of Marketing Mix or detailed
tactics to be carried out to achieve the objectives and
goals established in Step 3.
Product
Promotion
Pricing
Distribution
Other Areas
5. BUDGETING, FINANCIAL ANALYSIS
AND IMPLEMENTATION
Marketing Budget
lay out spending requirements necessary for meeting the plan’s
objectives
Outline spending requirements for each tactical marketing
decision
Breakdown each tactical category
e.g., types of advertising, types of services offered, marketing research
expense, etc.
Show detailed spending timetable by:
Month, Year
Show spending by:
Product (if plan is for more than one)
Segment/Geographic area
Distribution Network/Channel
FINANCIAL ANALYSIS
Financial Projections
Cash flow/revenue
Scenario analysis
Profitability
Breakeven Analysis
Marketing Contribution
Ratio Analysis
Limit to important marketing ratios
e.g.,sales cycle, advertising-to-sales, conversions from trial
to purchase, website traffic-to-search engine marketing, etc.
6. ADDITIONAL CONSIDERATIONS
potential situations that may affect the plan
InternalFactors
External Factors
Research Limitations
